Federal Reserve To Hold Interest Rates Low Until Unemployment Improves
By: John Ydstie
March 20, 2013
The Federal Reserve will maintain its hold on record low borrowing costs to stimulate the economy. Chairman Ben Bernanke said on Wednesday that while the U.S. economy has improved, it still needs support from the Fed to help lower unemployment. Bernanke says that short-term interest rates will stay near zero until unemployment falls to 6.5 percent. Forecasters expect that won't happen sooner than 2015.
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